AIG 2008 Annual Report Download - page 311

As of or for the Year Ended December 31, 2008 2008 2007 2008 2007 2008 2007 2008 2007
Non-U.S. Plans(b) U.S. Plans(c) Non-U.S. Plans U.S. Plans
Pension Postretirement(a)
(In millions)
Benefits paid:
AIG assets . . . . . . . . . . . . . . . . . . . . . (60) (36) (25) (11) (1) (1) (17) (18)
Plan assets . . . . . . . . . . . . . . . . . . . . . (43) (43) (96) (91) ————
Effect of foreign currency fluctuation . . . . 107 78 ——(5) 4——
Other .......................... 67 38 2—117 5—
Projected benefit obligation, end of year .. $ 2,080 $1,745 $ 3,745 $3,156 $ 101 $79 $ 285 $ 257
Change in plan assets:
Fair value of plan assets, at beginning of
year.......................... $ 952 $ 850 $ 3,129 $2,760 $— $— $— $—
Actual return on plan assets, net of
expenses ...................... (205) 36 (334) 162 ————
AIG contributions. . . . . . . . . . . . . . . . . . 115 87 59 309 1117 18
Participant contributions . . . . . . . . . . . . . 44——————
Benefits paid:
AIG assets . . . . . . . . . . . . . . . . . . . . . (60) (36) (25) (11) (1) (1) (17) (18)
Plan assets . . . . . . . . . . . . . . . . . . . . . (43) (43) (96) (91) ————
Effect of foreign currency fluctuation . . . . 551 ——————
Other .......................... (3) 3——————
Fair value of plan assets, end of year .... $ 765 $ 952 $ 2,733 $3,129 $— $— $— $—
Funded status, end of year ............ $(1,315) $ (793) $(1,012) $(27) $(101) $(79) $(285) $(257)
Amounts recognized in the consolidated
balance sheet:
Assets . . . . . . . . . . . . . . . . . . . . . . . . . . $32$28 $—$ 228 $— $— $— $—
Liabilities . . . . . . . . . . . . . . . . . . . . . . . (1,347) (821) (1,012) (255) (101) (79) (285) (257)
Total amounts recognized ........... $(1,315) $ (793) $(1,012) $(27) $(101) $(79) $(285) $(257)
Amounts recognized in Accumulated other
comprehensive (income) loss:
Netloss......................... $ 601 $ 242 $ 1,429 $ 513 $21 $6 $12 $ (5)
Prior service cost (credit) . . . . . . . . . . . . (66) (67) (1) (2) ——23 23
Total amounts recognized ........... $ 535 $ 175 $ 1,428 $ 511 $21 $6 $35 $18
(a) AIG does not currently fund postretirement benefits.
(b) Includes unfunded plans for which the aggregate pension benefit obligation was $859 million and $559 million
at December 2008 and 2007, respectively. For 2008 and 2007, approximately 82 percent and 83 percent pertain
to Japanese plans, which are not required by local regulation to be funded. The projected benefit obligation for
these plans total $702 million and $464 million, respectively.
(c) Includes non-qualified unfunded plans, for which the aggregate projected benefit obligation was $270 million
and $240 million at December 2008 and 2007, respectively.
The accumulated benefit obligations for both non-U.S. and U.S. pension benefit plans were as follows:
2008 2007
At December 31,
(In millions)
Non-U.S. pension benefit plans ...................................... $1,862 $1,504
U.S. pension benefit plans.......................................... $3,219 $2,752
AIG 2008 Form 10-K 305
American International Group, Inc., and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)